Judy on ZE
Following is the news about ZE to make wireless modems.
11:10 RT Internet frenzy pushes CAI <CAWS.O> stock higher
NEW YORK, May 28 (Reuter) - Shares in CAI Wireless Systems
Inc rose over 30 percent on Tuesday and led volumes on Nasdaq,
on excitement over its wireless Internet access plans.
The stock soared to 17-1/2 at one point, 35 percent up on
the day and almost doubling its value since it on Thursday
announced it would begin offering high-speed wireless Internet
access by the year end, analysts noted.
By 1100 EDT/1500 GMT the shares had settled back somewhat,
to 14-7/8, a rise on the day of 1-7/8, or 15 percent, with 9.68
million shares traded.
MORE
Rtr 11:10 05-28-96
Merger partners Bell Atlantic Corp <BEL.N> and NYNEX Corp
<NYN.N> together hold or own options for 45 percent of CAI.
CAI hopes to begin its Internet service in the fall in the
northeast United States, following trials in Washington D.C.
The service uses line of sight transmission at speeds
expected to be as high as 27 megabits per second, and a slower
telephone line return channel to allow for interactivity.
Beneficiaries are expected to be the makers of wireless
modems. CAI is using modems from <Hybrid Networks Inc>.
However Zenith Electronics Corp <ZE.N> and General Instrument
Corp <GIC.N> also developing wireless modems.
-- Nick Louth, New York Newsroom 212 859 1712
REUTER
Rtr 11:11 05-28-96
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